Cormorant Asset Management LP Increases Position in GH Research PLC $GHRS

Key Points

• Cormorant Asset Management LP increased its stake in GH Research PLC by 238.8%, acquiring over 1.4 million shares, making it the 17th largest holding in its portfolio valued at approximately $22.17 million.
• Numerous institutional investors have recently established new positions in GH Research, with a total of 56.90% of the company's stock now owned by institutional and hedge funds.
• Despite mixed ratings from analysts, GH Research has a current price target consensus of $32.00, with a total of seven analysts rating the stock as a "Buy".

Cormorant Asset Management LP raised its holdings in GH Research PLC (NASDAQ:GHRS - Free Report) by 238.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,009,482 shares of the company's stock after purchasing an additional 1,416,439 shares during the quarter. GH Research comprises approximately 1.7% of Cormorant Asset Management LP's portfolio, making the stock its 17th largest holding. Cormorant Asset Management LP owned about 3.86% of GH Research worth $22,165,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GHRS. BNP Paribas Financial Markets acquired a new position in GH Research in the fourth quarter valued at $44,000. Two Sigma Investments LP acquired a new position in GH Research in the fourth quarter valued at $117,000. Palumbo Wealth Management LLC acquired a new position in GH Research in the first quarter valued at $142,000. Millennium Management LLC purchased a new stake in shares of GH Research in the fourth quarter valued at about $145,000. Finally, XTX Topco Ltd purchased a new stake in shares of GH Research in the first quarter valued at about $169,000. 56.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GHRS shares. Zacks Research downgraded shares of GH Research from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Wall Street Zen raised shares of GH Research from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $39.00 target price on shares of GH Research in a report on Tuesday, June 24th. Finally, Cantor Fitzgerald started coverage on shares of GH Research in a report on Wednesday, June 4th. They issued an "overweight" rating and a $25.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $32.00.

GH Research Price Performance

Shares of NASDAQ GHRS traded down $0.14 on Tuesday, hitting $13.37. The company's stock had a trading volume of 25,559 shares, compared to its average volume of 326,440. GH Research PLC has a 12-month low of $6.00 and a 12-month high of $20.50. The company has a market capitalization of $695.64 million, a price-to-earnings ratio of -18.06 and a beta of 0.97. The stock has a 50 day moving average of $14.21 and a 200-day moving average of $12.10.

GH Research (NASDAQ:GHRS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.07. Sell-side analysts expect that GH Research PLC will post -0.8 EPS for the current fiscal year.

GH Research Company Profile

GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).